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Saturday, April 28, 2012

Space Business Blog: Does your Mom Understand your Business Plan?

Space Business Blog: Does your Mom Understand your Business Plan?: Several months ago Jonathan Goff, CEO at Altius Space Machines , called me.  ASM was preparing for a business plan “sprint” to compete in t...

Excerpts ("Here are a few highlights the team at Altius and I kept discussing while developing this plan":)
  • Is there a problem people will pay you to solve? If not, you do not have a market.
  • An attractive Market is even more valuable than an attractive technology. 
  • Your customer is the organization that pays you 
  • Once you have found a market, be cautious before competing head to head with incumbents
  • There is no substitute for the right market and the right team.
  • Money: how much do you need and how are you going to get it? 
  • If your Mom doesn’t understand your plan, VC’s won’t take the time to understand it either. Simplify. Simplify. Simplify.
  • The “prize” in most public competitions is the publicity and connections made as a result of winning, not in a the few dollars at stake.

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